Nicholas Wealth ManagementDerivative IncomeFIAX · NYSE Arca

Nicholas Fixed Income Alternative ETF (FIAX)

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Price: $17.20; —11 Sept 2026
Assets: $125.2M; Total net assets
Expense ratio: 0.97%; Category 1.43%
Yield: 6.02%; Trailing distributions

1Y return: 2.6%-6.4%; Category 9.0%
3Y CAGR: 2.9%-10.3%; Category 13.2%
5Y CAGR: —; Category 7.5%

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Nicholas Fixed Income Alternative ETF

Calendar-year returns

Fund only: no comparison series covers this fund's history.

Risk statistics

Five years of daily closes. Risk-free rate 4% a year.

Standard deviation: —
Maximum drawdown: —
Sharpe ratio: —
Sortino ratio: —
Beta: —
Alpha: —
R²: —
Information ratio: —
Upside capture: —
Downside capture: —
Tracking error: —

Trailing returns compared with benchmark
Period	1M	3M	6M	YTD	1Y	3YCAGR	5YCAGR	10YCAGR	LaunchCAGR
ETF	-0.9%	-0.4%	+2.2%	+1.0%	+2.6%	+2.9%	—	—	+2.9%
Derivative Income average	1.2%	3.4%	8.0%	6.9%	9.0%	13.2%	7.5%	—	7.3%
Difference	-2.1%	-3.8%	-5.9%	-5.9%	-6.4%	-10.3%	—	—	-4.3%

Holdings

Allocation as last published by the fund.

Sector allocation

Share of the equity the fund holds.

Technology37.4%
Financial services12.2%
Communication services9.9%
Consumer discretionary9.6%
Health care9.1%
Industrials8.2%
Consumer staples4.6%
Energy3.4%
Utilities2.2%
Real estate1.9%
Materials1.6%

Asset mix

Bonds74.1%
Cash24.5%
Other1.7%

Credit quality

Share of the bonds by rating.

US government74.1%

ETF details

Issuer: Nicholas Wealth Management
Category: Alternatives · Derivative Income
Ticker: FIAX
Exchange: NYSE Arca
Inception: 29 Nov 2022 (3.8 years)
Structure: Exchange Traded Fund
Expense ratio: 0.97% (category 1.43%)
Holdings turnover: 262% (category 251%)
Distribution yield: 6.02%
Beta, 3 years: 0.43
Total net assets: $125.2M
Average duration: 3.90 years
Average maturity: 9.85 years

Prices and returns as of 11 Sept 2026; total return with distributions reinvested, before brokerage and taxes. Not investment advice.

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